Retirement in Europe After Brexit
For many UK nationals, retiring to Europe has long been the dream — warmer weather, a slower pace of life, and an enviable standard of living. But since Brexit, the landscape has changed. Freedom of movement no longer applies, meaning British retirees must now meet each country’s individual visa and residency requirements.
The good news is that many European nations still actively welcome retirees from the UK. With careful financial planning, it’s possible to enjoy a tax-efficient, comfortable, and secure retirement abroad. Below, we explore six of the most attractive European destinations for post-Brexit retirement, focusing on lifestyle, residency options, and key financial considerations.
1. Portugal – Tax Efficiency Meets Lifestyle Appeal
Portugal remains one of the most popular destinations for UK retirees, offering a warm climate, safe environment, and high quality of life. The Algarve, Silver Coast, and Lisbon regions are particularly favoured among expat communities.
Residency and visas:
UK nationals can apply for the D7 Visa, also known as the Passive Income Visa, which is ideal for retirees with regular pension or investment income. Alternatively, the Golden Visa programme allows for residency via specific investment routes (though direct property investment is no longer an option under the revised 2024 rules).
Tax efficiency:
Portugal’s previous Non-Habitual Resident (NHR) regime was replaced in 2024 by the Incentivised Tax Regime (ITR), which continues to offer beneficial rates for certain foreign-sourced income, including pensions. The UK-Portugal Double Tax Treaty prevents double taxation, ensuring UK pensions are only taxed once — typically in Portugal.
Healthcare:
Once resident, retirees can access the public health system (SNS) or use private cover, which is affordable and of a high standard.
Lifestyle highlights:
With more than 300 days of sunshine per year, golf courses, beaches, and a thriving expat community, Portugal is often regarded as offering a balance of cost, culture, and climate.
2. Spain – Sunshine and Established Expat Networks
Spain continues to be one of Europe’s most popular retirement destinations. Its Mediterranean climate, excellent transport links, and well-developed expat infrastructure make it an easy and familiar choice for many Britons.
Residency and visas:
The Non-Lucrative Visa (NLV) is the most common route for retirees, requiring proof of sufficient income or savings to support yourself without working. Those seeking flexibility or investment potential might consider the Spanish Golden Visa, available for property investments of €500,000 or more.
Tax considerations:
Residents are taxed on their worldwide income, but the UK-Spain Double Tax Treaty ensures pensions are not double-taxed. Wealth and inheritance taxes vary by region, so professional advice is essential to structure assets efficiently.
Healthcare:
UK pensioners can access Spain’s excellent public health system using an S1 form, or alternatively, opt for private healthcare insurance.
Lifestyle highlights:
From the Costa del Sol and Costa Blanca to the Balearics and inland Andalusia, Spain offers a diverse range of lifestyles and price points — from beachfront living to rural tranquillity.
3. France – Culture, Cuisine and Comprehensive Healthcare
For retirees seeking charm, culture, and one of Europe’s best healthcare systems, France remains a top choice. The pace of life, accessibility from the UK, and established expatriate communities all add to its enduring appeal.
Residency and visas:
Retirees can apply for a long-stay visa equivalent to a residence permit (VLS-TS), valid for one year and renewable annually. Permanent residency becomes available after five years of continuous residence.
Tax planning:
Residents are taxed on worldwide income, but under the UK-France Double Tax Treaty, pensions are typically taxable only in France. The Assurance Vie may, in certain cases, provide an efficient structure for wealth and estate planning, offering potential tax deferral and favourable inheritance treatment, although suitability will depend on each individual’s personal situation and objectives.
Healthcare:
The French healthcare system is among the best globally. Retirees can access public healthcare through PUMA (Protection Universelle Maladie) after establishing residency, supplemented by affordable top-up insurance.
Lifestyle highlights:
Regions such as Dordogne, Brittany, and Provence are long-time favourites, combining natural beauty with community, culture, and a slower rhythm of life.
4. Italy – Charm, History, and Attractive Tax Incentives
Italy offers an unrivalled mix of culture, cuisine, and scenery. For retirees looking for authenticity, it’s an appealing destination — and recent tax incentives have strengthened its position among UK expats.
Residency:
UK nationals can apply for an elective residence visa, provided they can demonstrate sufficient income from pensions or savings. After five years, permanent residency is possible.
Tax benefits:
Italy’s pensioner flat tax regime offers qualifying retirees the option to pay a fixed 7% tax on all foreign-sourced income for up to 10 years if they relocate to certain southern regions. The UK-Italy Double Tax Treaty prevents double taxation of pensions.
Healthcare:
Italy’s public healthcare system (SSN) provides access to affordable and high-quality care, though private insurance is recommended for additional comfort and flexibility.
Lifestyle highlights:
From Tuscany and Umbria to Puglia and Sicily, Italy offers exceptional food, culture, and property value for those looking to integrate into local life.
5. Greece – Low-Cost Living and the 7% Flat Tax Regime
Greece has transformed into one of Europe’s most tax-advantaged retirement destinations. In addition to its stunning islands and warm climate, the government offers a simplified tax structure for new foreign retirees.
Residency:
The Greek Financially Independent Person (FIP) Visa allows retirees to reside in Greece if they can demonstrate sufficient regular income. The Golden Visa remains available for property investments starting from €250,000 (rising to €800,000 in some regions).
Tax regime:
The foreign pensioner flat tax applies a 7% flat rate on all foreign income, including pensions, for up to 15 years — one of the lowest in Europe.
Healthcare:
Both public and private options are available. EU pensioners previously accessed care through S1, but post-Brexit, UK retirees typically rely on private insurance initially, transitioning to public systems after establishing residency.
Lifestyle highlights:
Crete, Corfu, and the Peloponnese offer affordable living, friendly locals, and year-round sunshine — making Greece an attractive -value destinations in southern Europe.
6. Malta – English-Speaking and Financially Stable
Malta is an excellent choice for retirees who value familiarity and financial security. English is an official language, and the island’s legal and financial systems are closely aligned with the UK’s.
Residency options:
Retirees can apply for the Malta Retirement Programme (MRP), which offers special tax status to EU and non-EU nationals alike. Applicants must have stable income, meet minimum property purchase or rental requirements, and live in Malta for at least 90 days a year.
Tax planning:
Foreign income remitted to Malta is taxed at a rate of 15%, with no taxation on income retained abroad. There is no inheritance tax, and Malta’s double tax treaty network provides clarity for UK pensioners.
Healthcare:
Healthcare quality is excellent, with English-speaking doctors and a mix of public and private facilities. UK retirees may qualify for certain reciprocal healthcare benefits under post-Brexit agreements.
Lifestyle highlights:
Malta offers a vibrant cultural scene, historical architecture, and an established expat community — all within a compact, easy-to-navigate island environment.
Planning Ahead: Financial and Regulatory Considerations
Before retiring overseas, UK nationals should consider the following key steps:
- Review your pension options – Consider whether a Qualifying Recognised Overseas Pension Scheme (QROPS) or International SIPP may be appropriate for your circumstances, as these options can offer additional flexibility for some individuals.
- Understand tax residency – Where you live will determine where you pay tax. Double tax treaties are critical.
- Review estate and inheritance laws – Many EU countries have forced-heirship rules that may differ from UK succession law.
- Healthcare and insurance – Ensure continuous coverage, especially during transition periods.
Work with a cross-border financial adviser – A qualified adviser can coordinate pensions, investments, and estate plans across jurisdictions.
Final Thoughts
Despite Brexit, retiring to Europe remains entirely achievable — and, for many, more rewarding than ever. From Portugal’s sunshine and tax efficiency to France’s healthcare and Greece’s low cost of living, Europe offers diverse opportunities for a comfortable and secure retirement.
The key is to plan early, seek expert financial guidance, and structure your assets in a way that aligns with both your lifestyle goals and tax obligations.
Disclaimer:
This article is provided for informational purposes only and does not constitute financial, tax or immigration advice. Individuals should seek personalised advice from a qualified professional before making decisions based on this information. Visa and tax regimes are subject to change, and eligibility criteria should always be verified with the relevant authorities or qualified professionals before making any decisions.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
A SIPP transfer may offer many benefits, including greater investment flexibility and exemption from capital gains and income tax; however, a SIPP is not suitable for every retirement investor and independent expat financial planning advice should always be sought before committing to a SIPP pension transfer.
Now that September is here, the summer is definitely drawing to a close for another year. For those of us living in the UK, we no doubt have a dark, cold, and almost certainly, wet autumn and winter to look forward to. While this summer may have been better than some years – 2017 saw the country blessed with bursts of intense heat, including the hottest August Bank Holiday weekend on record – the warm sunshine was only fleeting.